If you’re looking for government funding and you’re interested in partnering with a company from another country, you may want to check out the Canada International Innovation Program (CIIP). Primarily, this program focuses on industrial research and development projects, and it grants funds you can use to commercialize your ideas. The overall goal of this program is promoting international collaboration and the development of innovative products.
As of 2017, the CIIP partner countries include Brazil, China, India, Israel, and South Korea, and you must complete a separate application process for programs based in each country. The deadlines, requirements, and application process vary depending on the partner country you choose. The overall process is similar, and you must be willing to work with entrepreneurs from companies based in that country.
To apply for CIIP, your project must have the potential for commercial success and be technologically feasible, and it can’t be for military purposes. Beyond those three basics, the exact requirements vary based on the exact program and the partner country.
For instance, the Canada-Brazil Research and Development Partnering project focuses on diagnostic products for the healthcare market. In particular, it’s for products that help analyze samples from the human body rather than products with therapeutic functions. In contrast, the Canada-South Korea partnership program focuses on innovations in the fields of healthcare, eco-friendly energy, the Internet of things, and advanced manufacturing.
Overview of the Application Process
Generally, each project starts with a call for proposals. If you’re interested, you may want to sign up for updates from CIIP so you know the kick-off date of each project. You can typically submit open proposals for about a month, and you may have to submit a full proposal after that.
If you’re chosen for the program, you and the entrepreneurs from the partner company must sign an intellectual property rights agreement, which protects all the people involved and ensures no one steals anyone else’s ideas. You must also jointly agree to a commercialization strategy, and both companies must be capable of funding their share of the project.
If you meet all these requirement, you receive the funding for the project. The amount of funding varies based on the specific project, but you can often receive up to half of what you need for research and development. In some cases, project monitors release the funds as you hit certain milestones.
Funding for the Program
Funded by Global Affairs Canada, the National Research Council of Canada Industrial Research Assistance program helps with administration and other aspects of the project. This also involves organizations from partner countries, and because the project is part of a seed fund, it’s willing to accept funding from outside sources as well.
If your business or product meets the criteria for this very specific type of government funding, you may want to apply. It can be a great way to network and expand internationally. If your business or product doesn’t fit this criteria, you may want to check out loans or other types of funding options.